Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    600-640 Franklin St Alexandria, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available in Alexandria, built in 1989.

    Type:OFFICE
    Property size:
    2,032 SF
    Lot size:
    0.80 Acres
    Added:
    Sep 24, 2024
    Days on Market:
    589
    Last Refresh:
    Apr 5 at 9:57 pm

    Property Features for 600-640 Franklin St

    General Information

    Standard status
    Active
    Size
    2,032 SF
    Lot size
    0.80 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 600-640 Franklin St Contact us

    We can help!

    Listing Contact
    Nick Gregorios
    Nick Gregorios

    Listing agent Nick Gregorios

    Listing office Avison Young | Tysons

    Listing date Sep 24, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Avison Young | Tysons

    Overview

    Alexandria Office Space For Rent

    This office space, constructed in 1989, is available for rent. The building encompasses 60,376 square feet and is situated on a 0.8-acre lot. The available space is 2,032 square feet.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Fairfax
    State
    Virginia
    Longitude
    -77.0479
    Latitude
    38.7979

    Nearby Similar for Lease

    • $2,600/Mo

      Old Town Alexandria Retail Space

      Prime commercial space in Old Town Alexandria, high-traffic location.
      623 S WASHINGTON Street, ALEXANDRIA, VA 22314
      View Details
    • $1,300/Mo

      Move-in Ready Alexandria Office Condo

      Updated office condo with easy access and included utilities.
      4810 BEAUREGARD Street, ALEXANDRIA, VA 22312
      View Details
    • $4,200/Mo

      ALEXANDRIA, VA Commercial Suite

      First floor commercial suite suitable for medical or office use.
      1300 LAFAYETTE Drive, ALEXANDRIA, VA 22308
      View Details
    • $2,804/Mo

      ALEXANDRIA Retail/Salon Space For Lease

      Ground floor space suited for salon or retail in ALEXANDRIA.
      1900 ELKIN Street, ALEXANDRIA, VA 22308
      View Details
    • $3,500/Mo

      Furnished Alexandria Office Suite

      Move-in ready office suite in Old Town Alexandria.
      225 N WASHINGTON Street, ALEXANDRIA, VA 22314
      View Details
    • $2,400/Mo

      ALEXANDRIA Retail Space For Rent

      Prime commercial condo, currently a nail salon and massage therapy business.
      1701 BELLE VIEW Boulevard, ALEXANDRIA, VA 22307
      View Details
    • $400/Mo

      Shared Office Space Available

      Shared office space with utilities included in Alexandria, Virginia.
      801 N PITT Street, ALEXANDRIA, VA 22314
      View Details
    • Contact for pricing

      Furnished Office Suite in Alexandria

      Move-in ready office suite in Old Town Alexandria.
      225 N WASHINGTON St SUITE 3-A, Alexandria, VA 22314
      View Details
    • Contact for pricing

      Professional Office Suite For Rent

      200 SF office suite in Old Town Alexandria.
      301 FRANKLIN St, Alexandria, VA 22314
      View Details
    • $5 SF/Yr

      LRB Business Centers Office Suites

      Private office in shared suite with receptionist and high-speed internet.
      2121 Eisenhower Ave, Alexandria, VA 22314
      View Details
    • $1,923/Mo

      Office Space For Lease

      Office space available for lease in Alexandria, Virginia.
      5122 LEESBURG Pike, ALEXANDRIA, VA 22302
      View Details
    • Contact for pricing

      Flexible Retail Space in Alexandria

      2,750 SF retail space with flexible floor plan.
      218 W GLEBE Rd, Alexandria, VA 22305
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available in Alexandria, built in 1989.
    Where is this office units located?
    The property is located at 600-640 Franklin St Alexandria, VA.
    What is the lease rate?
    The lease rate is $39 SF/Yr.
    What are key features of this property?
    This property features: Building size: **60,376 SF**; Property type: Office; Year built: 1989
    (703) 288-2700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nick Gregorios
    Nick Gregorios
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    600-640 Franklin St, Alexandria, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!